The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-11-19
PRICES TAKE A BIG JUMP
A THIRD OF THE WHEAT CROP SOLD
IN ONE CITY IN SIXTY DAYS.

Corn, Cotton, Oil and Coffee Also on
the Keen Jump Business Generally
Active for the Season--Some of the
Causes for the Excitement.
NEW York, Nov. 1S.--R. G. Dun & Co.'S
review of trade for the week says: More
than third of all the wheat which will
leave the farms throughout the country
during the entire year was sold in this one
city during the past sixty days. The
reported sales reached l07, 800, 600 bushels of
wheat, -, ,2257, 600 bushels of corn, S,273, 900
barrels. of oil, 1,046, 400 bales of cotton and
46S, 900 bags of coffee.
Wheat advanced 3Ac., corn 41sc., oats
1Hc., oil l1sc., and coffee &c, while cot
ton declined l-l6c. Hogs, pork and pork
products were excited, hogs rising 4Oc. per 100
pounds and lard 20c Apprehended deficiency
of supplies is the excuse for the excited adj
vance in some products, but the bot
tom fact is that more currency Is
in circulation than ever before,
and the treasury deposits with the banks
feed the speculative fever, while removing
fear of monetary pressure at the chief
centres of trade Meanwhile money re-
mains tight at many interior points, and
the complaints of slow collections do not
abate.
BUSINESS ACTIVE.
Business is generally active for the sea
son, though at some points it is retarded by
slow collections or recent failures. The
exchanges last week fell below those
of the same week last year,
but the great increase at most
Western and Southern cities continues.
At Atlanta trade is slightly less active, and
merchants are bending their energies to the
work of liquidation. AT Memphis serious
damage results from a long drought and
prevalent fires, and Nashville finds fires and
failures an embarrassment.
The great speculation in wheat goes on
in spite of the decline of 3,200,000
bushels in the October exports and $500, 900
bushels in September "Never mind the
exports, we are making money" traders
say, but the quantity remaining ON hand
Nov. /, after allowance for a full years
consumption, was l09, 200, 600 bushels, where
as the exports for the the remaining months
of the last crop year were 100, ,94l
bushels.
CoRN's EXCITEMENT.
Corn is excited because of the bureau re-
duction of $4,000, 900 bushels in its estimate
At the same time pork products and cattle
rise. Yesterdays markets showed sharp
reduction in grain, but whether speculation
has eliminated no one can say.
Cotton has reacted but littl) from the
great advance caused by the bureau report,
but the receipts continue large beyond prece-
dent. If the bureau estimate of $500, 600
bales is correct. the quantity which has
come forward already, about 2,540,O 900, is
not less than 45 per cent. of the years yield
II is not strange that some are in doubt
about it.
In the iron trade, consumption continues
large, and prices are still held with strong
hope that marketing of securities may as
sure another year of extensive railroad
building. In ten months 9,40S miles have
been completed against 1000 in the whole OF
| last year.
The business failures during the week
number for the UnitedStates 205, and for
Canada 10, or total Of 224, as compared
with a total Of 2l7 last week, and 245 the
week previous.